TWO FORMS 1098-T

[MANI1346]

Thank you so much.

My daughter has a 1098-T box1 is zero and box 5 has $18500 so let me know if she should file on his return and she has a W-2 wages is $2100 and box 2 is $15.

[Hal_Al]

Once again, you don't blindly enter the 1098-T, just because you got one. You need to understand what's going on. Why is there nothing in box 1 of her 1098-T.  Contact the school and/or review her billing records, The usual explanation is that the school put the tuition on the 2023 1098-T, but didn't post the scholarship that covered it until the following January. Therefore the scholarship shows up on the 2024 1098-T, but no tuition.

This is such a common error, that TT covers it in the interview with a screen that allows you to adjust the scholarship amount for "amounts not awarded for 2024 expenses".

What is in boxes 1 & 5 of her 2023 1098-T.  How did you use/report those numbers on your and her tax forms. 

[MANI1346]

please give time to find out 2023 of 1098-t paper.

[MANI1346]

Thanks a lot , I would like to know for next year will not be confused , in general ,

• When Box 1 on the 1098-T does not have any number, but Box 5 has a number, should it be ignored?
  (Please consider whether my kids have a W-2 or not in all situations, both below and above this scenario.)

• When Box 1 has a number and it is less than $4000, but it is less than the number in Box 5, what should I do?

• When Box 1 has a number and it is less than $4,000 but still greater than Box 5, what should I do?
•  

• When Box 1 has a number, grater than $4000 and  it is less than the number in Box 5, what should I do?

• When Box 1 has a number, grater than $4000 and  it is greater than the number in Box 5, what should I do?
  Thanks your help

[Hal_Al]

You appear to be asking  5 hypothetical scenario questions, but no info on your own situation.  Like your own situation, each one of those questions would require more info before they can be answered.

You might want to  go to an in person tax preparer.  It appears that you may have education credit money coming for  2024 and maybe even 2023. 

[MANI1346]

Thanks. Sometimes college does not generate 1098-T for student like my kid, I remembered, one year when she wanted to download 1098-T, it said not eligible something like that.